PennyWorks, a DeFi-based platform that “tames the turbulence” of investing with a secure and stable experience, announced “major” milestones in its first few months of operations, including “a 205% month-over-month increase in user acquisition following the company’s $2 million pre-seed funding round led by Hi2 Global.”
The platform also “introduced the formation of an Advisory Board focused on risk reduction and unveiled a new option to increase the ease of funding for investors through an integrated ACH pull solution.”
Ivan Zhang, Co-Founder and CEO of PennyWorks, said:
“As the industry begins to emerge from months of volatility driven by bad actors and reckless operations that spooked countless investors, PennyWorks has doubled-down on improving the user experience and deepening trust in our platform to encourage adoption and fortify the DeFi sector.”
As interest in the PennyWorks platform continues, a newly formed Advisory Board “will help guide the company’s risk-management strategy.” The advisory board is “composed of four professionals with over 70 years of deep expertise in both traditional finance and crypto, including Harumi Urata-Thompson, Founder and CEO of HUT Consulting.”
Urata-Thompson remarked:
“PennyWorks shows great promise as an alternative investment vehicle that allows individuals and businesses the ability to earn yield through collateralized digital asset lending. The highest priority of our advisory group is to use our decades of experience to ensure PennyWorks leads the future of alternative investments through strict risk reduction protocols and diligent asset management, all while providing our customer with the highest level of transparency to build trust.”
Urata-Thompson previously “served as a global CTO for major finance brands and contributor of the Bahamas’ CBDC Sand Dollar.”
Zhang commented:
“We are grateful to Harumi and the entire Advisory Board for sharing their expertise with PennyWorks, and are excited about the opportunities ahead for investors who believe their financial relationship ought to deliver more.”
PennyWorks will join “a select group of fintech leaders to demo its platform at FinovateFall on Monday, September 12.”
Accredited investors can learn more about PennyWorks by attending the event, or by visiting the firm’s official website.
